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Underperforming PSUs stand to lose Mini Ratna status following assessment
- The move of the Department of Public Enterprises (DPE) calling for re-examining existing Mini Ratna status of Central Public Sector Enterprises (CPSEs such as BSNL, HMT, Hindustan Paper and Hindustan Newsprint) is seen as a “sword of Damocles” for those which had floundered on the performance front during the past three years
- The parent bodies are expected to examine the performance of the PSUs and in case they don't fulfil the criteria, the DPE has directed that they be divested of their status immediately.
A political blow to poll-bound Nicolas Sarkozy
- The stripping of France's AAA credit status to AA+ by the ratings agency Standard & Poor's (S&P) has dealt a serious political blow to French President Nicolas Sarkozy, just three-and-a-half months ahead of the next presidential election.
- France is Europe's second largest economy and a major influence in European and world politics, considering it is a permanent member of the United Nations Security Council.
- Nine eurozone nations have had their credit ratings downgraded.
- All the countries of the eurozone now face negative perspectives except Germany and Slovakia.
- The only economies in the eurozone that continue to enjoy the prized AAA status are Germany and Finland although the latter faces a negative growth perspective.
GAIL Gas plans LNG terminal in AP
- GAIL Gas Limited, a wholly-owned subsidiary of GAIL (India), has joined hands with the Andhra Pradesh Government for setting up of an LNG terminal/ floating storage and re-gasification unit (FSRU) along the State's expansive sea coast.
- It is likely to be the first such facility on the East Coast with an estimated investment of Rs.5,000 crore.
- The proposed facility would supply R-LNG, a preferred feedstock, for the power, industrial and other sectors to meet the growing needs of the State.
